Chapter 6: Manufacturing Industries
Chapter 6: Manufacturing Industries What is Manufacturing? Manufacturing is the process of converting raw materials into more valuable finished goods. It belongs to the secondary sector of the economy (primary is farming/mining; tertiary is services). Example: Cotton (raw material) → Spun into thread → Woven into cloth → Sold as a shirt. Importance of Manufacturing Value addition – Raw materials are turned into valuable goods. Employment – Creates jobs and reduces pressure on agriculture. Exports – Earns foreign exchange for the country. Expand trade and commerce. Growth – Boosts economic development and helps in modernization. Backward & forward linkages – Encourages development of other sectors (like transport, banking, etc.) Contribution of Industry to the National Economy Question - Why is Industry Important for the Economy? Increases GDP (Gross Domestic Product): Employment Generation: Foreign Exchange: Reduces Dependence on Agriculture: Boosts Infrastructure and De...